Sec.40A

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SHWETA GERA (Querist)
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02 August 2010 Donation to charitable trust made in cash amounting to Rs.40000. Is it allowed as deuction u/h PGBP? What is the provision?

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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02 August 2010 First of all it would be added back in the Income of Profits and Gains of Business or Profession if debited to Profit and Loss account.

A deduction would be allowable only if the charitable trust is registered with the Commissioner of Income - Tax and approval has been granted (a certificate is issued for the purpose of section 80G).

A 50% of donation is eligible for deduction subject to the 10% of gross total income.

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Ratan Sharma

Ratan Sharma (Expert)
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02 August 2010 Agree with expert. Donation is generally treated as personal expenditure hence not deductible under PGBP.

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Sec.40A

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